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From River To Globalbees — Indian Startups Raised $168 Mn This Week

From River To Globalbees — Indian Startups Raised $168 Mn This Week
SUMMARY

Indian startups raised $168 Mn in funding across 25 deals this week, a 250% surge from the previous week

EV scooter manufacturer River raised $40 Mn from Yamaha, making the biggest funding round of this week.

Kunal Shah-led CRED acquires investment wealth tech startup Kuvera to take on Groww and Zerodha

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After a slight dip, investment activity across the Indian startup ecosystem shot back in the  post budget week. From February 5 to 10, startups collectively raised $168 Mn in funding across 25 deals, marking a 250% uptick as compared to $48 Mn raised across eight deals in the previous week.

Funding Galore: Indian Startup Funding Of The Week [Feb 5 – Feb 9]

Date Name Sector Subsector Business Model Funding Round Size Funding Round Type Investors Lead Investor
6 Feb 2024 River Cleantech Electric Vehicle B2C $40 Mn Series B Yamaha Motor Corporation, Al-Futtaim Automotive, Lowercarbon Capital, Toyota Ventures, Maniv Mobility Yamaha Motor Corporation
5 Feb 2024 Astrotalk Consumer Services B2C $20 Mn Series A Left Lane Capital
6 Feb 2024 Globalbees Ecommerce Roll Ups B2C $17 Mn Debt Avendus
5 Feb 2024 Keus Smart Home Deeptech Hardware & IoT B2B $12 Mn OAKS Asset Management, Brijesh Chandwani, Subram Kapoor
6 Feb 2024 OTO Fintech Lending Tech B2C $10 Mn GMO Venture Partners, Turbostart, KL Rahul, Prime Venture Partners, Matrix Partners, 9Unicorns GMO Venture Partners
7 Feb 2024 Pandorum Technologies Healthtech Medtech B2B $8 Mn Ashish Kacholia, Everest Finance and Investment Company
5 Feb 2024 DevX Real Estate Tech Shared Spaces B2B $7 Mn Family offices of Urmin, Gala and Bidiwala
5 Feb 2024 Wishlink Ecommerce Social Ecommerce B2C $7 Mn Elevation Capital, Fundamentam
8 Feb 2024 Bombay Shirts Company Ecommerce D2C B2C $6.5 Mn Singularity Ventures, Mithun Sacheti Singularity Ventures
8 Feb 2024 Verse Innovation Media & Entertainment Social Media & Chat B2C $6.2 Mn Debt Alteria Capital
7 Feb 2024 Metafin Fintech Lending Tech B2B-B2C $5 Mn Prime Venture Partners, Varanium Capital
6 Feb 2024 Khyaal Media & Entertainment Social Media & Chat B2C $4.2 Mn Seed 62Ventures, SVQuad, Inventus Capital, Glen Tullman, Kanwal Rekhi, Raju Reddy, Raj-Ann Gill, Everywhere Ventures, Supermorpheus, Unpopular Ventures 62Ventures, SVQuad, Inventus Capital
8 Feb 2024 upliance. ai Deeptech Hardware & IoT B2C $4 Mn Seed Khosla Ventures
6 Feb 2024 Adventum Student Living Edtech Online Discovery B2C $3 Mn Brand Capital
7 Feb 2024 Cashinvoice Fintech Lending Tech B2B $3.4 Mn Series A Pravega Ventures, HDFC Bank, Accion Venture Lab Pravega Ventures, HDFC Bank, Accion Venture Lab
7 Feb 2024 ControlZ Ecommerce Recommerce B2C $3 Mn Seed 9Unicorns, Venture Catalysts 9Unicorns, Venture Catalysts
5 Feb 2024 Snap-E Cabs Travel Tech Transport Tech B2C $2.5 Mn Pre-Series A IPV
8 Feb 2024 Neodocs Healthtech Fitness & Wellness B2C $2 Mn Seed Omidyar Network India, YCombinator, 9Unicorns, Gemba Capital, Titan Capital, Kunal Shah, Varun Alagh, Vivek Gambhir, Harshad Reddy Omidyar Network India
5 Feb 2024 Arogya Tech Healthtech Fitness & Wellness B2C $1.8 Mn Seed Hasu P Shah
5 Feb 2024 Rupyz Enterprisetech Vertical SaaS B2B $1.2 Mn Seed Merak Ventures
5 Feb 2024 SportVot Media & Entertainment OTT B2C $1.1 Mn Pre-Series A Omidyar Network India, Anicut Capital, Startupynk, Ventana Ventures, Capital A, Ankur Capital, SucSEED Indovation, Marwah Sports Omidyar Network India
6 Feb 2024 Swirl Ecommerce Social Ecommerce B2C $1.1 Mn Seed Shastra VC Shastra VC
7 Feb 2024 Piscium Pockets Healthtech Medtech B2C $722K Series A Unicorn India Ventures Unicorn India Ventures
7 Feb 2024 Koparo Ecommerce D2C B2C $722K 4P Capital Partners, Aman Gupta, Vineeta Singh
5 Feb 2024 Papa Pawsome Ecommerce D2C B2C $400K Seed IAN IAN
Source: Inc42
*Part of a larger round
Note: Only disclosed funding rounds have been included

Key Startup Funding Highlights Of The Week

  • Bengaluru-based EV scooter manufacturer River raised $40 Mn in its Series B funding led by Japan’s Yamaha Motor Corporation, making the biggest funding round of this week.
  • Fuelled by River’s funding, cleantech emerged as the most funded sector this week, striking a single deal of $40 Mn.  
  • The ecommerce sector reported a maximum of seven deals this week, bagging $32.4 Mn in funding.
  • This week, seed funding jumped to $17.7 Mn across nine deals, up from $6.5 Mn from last week. 
  • 9Unicorns emerged as the busiest investor this week with infusions into three startups. 

Startup Acquisitions This Week

  • Thyrocare is acquiring a 100% stake in Chennai-based Think Health Diagnostics and a related party to offer ECG services at home.
  • Kunal Shah-led CRED acquires investment wealth tech startup Kuvera in a  mix of cash and stock deal.
  • Gamingtech company OneVerse Gaming acquired online game development studio Spartan Poker for an undisclosed amount.
  • Paytm has acquired ONDC platform Bitsila to strengthen its ONDC presence. However, the listed startup denied the acquisition.

Other Major Developments From This Week

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